EssilorLuxottica Acquires Supreme for $1.5 Billion
TL;DR Summary
Italian eyewear manufacturer EssilorLuxottica is acquiring streetwear brand Supreme for $1.5 billion from VF Corp, which bought it for $2.1 billion in 2020. The sale reflects limited synergies between Supreme and VF Corp's other brands, and comes as Supreme's popularity has waned. EssilorLuxottica sees the acquisition as a way to connect with new audiences and expand its portfolio.
- Supreme is getting an surprising new owner CNN
- EssilorLuxottica expands into streetwear with $1.5bn Supreme deal Financial Times
- EssilorLuxottica to Acquire Supreme WWD
- Supreme brand to be sold to Ray-Ban maker EssilorLuxottica CBS News
- EssilorLuxottica to buy Supreme for $1.5 bln, shares down 2.5% Reuters
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